ASIC defines a mortgage aggregator as a business that provides aggregation services to mortgage brokers and has a direct contractual relationship with a credit provider. The joining agreement should state whether the broker needs an Australian credit licence or will act as a credit representative.
Compare the lenders you can use, the net commission you keep and the support included in the agreement. Test the daily software, confirm the licensing model and request a dated aggregator pack before signing.
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What an aggregator does
Ask each group to show how a file moves from product selection and lender accreditation through to settlement. Request the training, professional indemnity and support terms in the joining agreement instead of relying on a sales presentation.
ASIC says a person who engages in credit activities generally needs an Australian credit licence unless they are exempt or authorised as a representative of a licensee. Ask which model applies to you and record the licence or representative number before signing.
What brokers actually buy
Use The best mortgage broker aggregators as a shortlist, then compare each group’s customer service, lender panels and mortgage broker software against the work you write. Brand recognition does not solve a gap in the lenders or file types you need.
Lender access
If a group lists lenders such as Commonwealth Bank, Westpac, ANZ or non-bank lenders such as Liberty Financial, ask which of them you can personally lodge to. Get confirmation for the loan types you write rather than relying on the panel logo sheet.
For specialist loan types such as SMSF, construction, near-prime or commercial lending, request a written list of the available lenders and accreditation requirements before leaving your current aggregator.
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Tools, training and lodgement
Inspect the CRM, lodgement, document collection, education and compliance tools used in the daily application process. If the group permits it, test the live screens with a dummy file before you compare the workflow.
How to choose
Separate any joining offer from the ongoing cost. Model the net commission rate after aggregator fees, then confirm that the software can lodge the lenders you need.
Keep the group whose panel and net pay match the loans you already write, not the group with the loudest brand. Do not rely on a page dated last year. Ask for the current fee schedule and for a written list of the lenders you can lodge today.
Aggregator fees and commission
Ask whether each proposal uses a commission percentage, membership fee, technology fee or a combination. Apply every quoted cost to your own settlement and trail figures, then compare the net result and the trail reporting you would receive.
Use these fee pages as starting points for several best aggregators for mortgage brokers in Australia, then request the current schedule from each group:
- AFG aggregator fees
- Connective aggregator fees
- LMG aggregator fees
- Finsure aggregator fees
- Vow Financial aggregator fees (now YBR Aggregation)
Use a trail commission calculator on your own book before you sign. Model the fee, not a recruiter’s example loan.
How to compare two groups
- List the lenders you used in the last 12 months and ask each aggregator whether you can lodge those lenders on day one.
- Sit in the CRM and lodgement screens. Time a standard residential file.
- Get the current fee schedule in writing, including technology fees and PI.
- Ask who holds the credit licence and what happens to your trail if you leave.
If an aggregator promotes AI-driven matching or document tools, test the feature with a representative file. Treat it as part of the software review, not as a substitute for usable panel access and a fee schedule.
